A scientist creates a NFT version of his published paper. This NFT contains a visual representation of the published paper in the form of a cover.
Every time an investor buys a copy, the scientist who created the NFT earns a royalty.
During this initial experimental version, we will create the tokenized version of the papers ourselves on behalf of scientists, to guarantee that the researcher is one of the authors of the paper. When we create the NFT we identify the wallet address of the scientist, so he can receive the royalties in his own wallet.
An investor can buy a copy for multiple reasons:
- Fund future work of a scientist or a research group
- Treat it as a collectible item
- Use it as an asset and sell it for future profit
There are two ways an investor can sell a copy: through a direct sale on a secondary market, or burn the copy in our platform.
The price of copies follows a bonding curve.
When an investor buys a copy, a 15% fee is paid to the scientist, 5% to the platform and the remaining 80% goes to a reserve.
Later, an investor might decide to burn his copy, getting 80% of the copy price at the current supply, paid by the reserve.
Scide is a platform built on the Ethereum blockchain.
The economics of royalties, selling and burning copies was heavily inspired by the Eulerbeats genesis project.
The visual representation of the NFTs was inspired by Autoglyphs. Scide uses unicode characters to build a visual representation of a paper and we store this information both on-chain and off-chain (using IPFS as a decentralized storage service provider).
You can find more technical details here.
Scide is the first project to make science publishing more open and transparent.
It also attempts to nourish private investing and facilitate the access of individual and small retail investors to science research.
We are already working on a new platform where we will attempt to revolutionize science publishing from end-to-end. More details will come in the form of a blog post.
We will use the procceeds of this inital project to fund development of the new platform and create a DAO (decentralized autonomous organization). Participants of Scide will be involved in the DAO.